Want to see SOC full AI Analyst Report?
Top Page
Sable Offshore
(NYSE:SOC)
Select Model
Select Model
Rating:48Neutral
Price Target:
$5.00
▲(7.99% Upside)
Action:Reiterated
Date:08/24/26
SOC’s score is held back primarily by very weak financial performance (large TTM losses and significant cash burn), which outweighs balance-sheet improvements. Technicals are mixed with a short-term lift but a longer-term downtrend, and valuation is constrained by negative earnings. Corporate events provide some support via refinancing and operational progress, partially offset by regulatory/legal overhang.
Positive Factors
Operational Ramp-Up
The shift to positive operating cash flow and materially higher production shows the Santa Ynez assets are progressing from restart toward a functioning revenue-generating operation, supporting better fixed-cost absorption and future cash generation.
Negative Factors
Persistent Unprofitability
The company has not yet demonstrated a stable earnings model: revenue remains small relative to its cost structure and losses have persisted across prior years. Sustained negative margins could limit reinvestment and require continued external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Operational Ramp-Up
The shift to positive operating cash flow and materially higher production shows the Santa Ynez assets are progressing from restart toward a functioning revenue-generating operation, supporting better fixed-cost absorption and future cash generation.
Read all positive factors
Sable Offshore (SOC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$930.57M
Dividend YieldN/A
Average Volume (3M)8.76M
Price to Earnings (P/E)―
Beta (1Y)0.15
Revenue GrowthN/A
EPS Growth52.41%
CountryUS
Employees200
SectorEnergy
Sector Strength52
IndustryOil & Gas Drilling
Share Statistics
EPS (TTM)-3.43
Shares Outstanding191,869,570
10 Day Avg. Volume6,942,778
30 Day Avg. Volume8,762,313
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)1.66
Price to Sales (P/S)0.00
P/FCF Ratio-1.15
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$9.33Price Target Upside101.58% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-1.7
Revenue Forecast (FY)$697.85M
Sable Offshore Business Overview & Revenue Model
Company Description
Sable Offshore Corp. (SOC) specializes in the exploration and production of oil and natural gas across the United States. The company's operational assets include three offshore platforms located off the California coast, along with an onshore pro...
How the Company Makes Money
SOC primarily makes money by producing and selling hydrocarbons (crude oil and/or natural gas) from its offshore assets. Its core revenue stream is sales revenue recognized when produced volumes are delivered and sold to purchasers, typically pric...
Sable Offshore Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
48
Neutral
Cash Flow
12
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 138.40M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -51.02M | -14.51M | -13.43M | -21.02M | 0.00 | 0.00 |
| EBITDA | -247.68M | -297.36M | -548.37M | -72.66M | -1.83M | 4.27M |
| Net Income | -433.79M | -410.16M | -629.07M | -93.67M | -2.59M | 4.27M |
Balance Sheet | ||||||
| Total Assets | 1.76B | 1.74B | 1.58B | 711.58M | 290.91M | 288.44M |
| Cash, Cash Equivalents and Short-Term Investments | 21.60M | 97.68M | 300.38M | 0.00 | 100.26K | 322.77K |
| Total Debt | 968.84M | 943.41M | 851.45M | 14.18M | 1.78M | 956.12K |
| Total Liabilities | 1.37B | 1.21B | 1.20B | 372.56M | 18.89M | 13.88M |
| Stockholders Equity | 395.00M | 534.30M | 384.19M | 339.02M | 272.02M | 274.56M |
Cash Flow | ||||||
| Free Cash Flow | -558.97M | -769.33M | -259.38M | -3.84M | -1.71M | -2.01M |
| Operating Cash Flow | -281.76M | -351.70M | -187.08M | -3.84M | -1.71M | -2.01M |
| Investing Cash Flow | -277.20M | -417.62M | -276.25M | 231.58M | 786.92K | -287.50M |
| Financing Cash Flow | 297.79M | 531.24M | 745.76M | -227.56M | 705.00K | 289.82M |
Sable Offshore Technical Analysis
Positive
4.63
Price Trends
4.52
Positive
8.68
Negative
9.49
Negative
Market Momentum
-0.07
Negative
50.82
Neutral
56.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SOC, the sentiment is Positive. The current price of 4.63 is above the 20-day moving average (MA) of 4.61, above the 50-day MA of 4.52, and below the 200-day MA of 9.49, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 50.82 is Neutral, neither overbought nor oversold. The STOCH value of 56.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SOC.
Sable Offshore Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $5.94B | 6.31 | 31.33% | 0.68% | -13.22% | 249.28% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | $7.33B | 47.85 | 3.30% | 4.40% | -11.10% | -52.07% | |
63 Neutral | $3.00B | 2,401.00 | 0.03% | 14.83% | 13.06% | -98.53% | |
59 Neutral | $6.43B | -3.10 | -20.24% | 14.08% | 8.54% | -3.69% | |
52 Neutral | $1.37B | -5.53 | -21.28% | 4.95% | 2.71% | -447.50% | |
48 Neutral | $930.57M | -1.43 | -102.11% | ― | ― | 52.41% |
* Energy Sector Average
SOC
Sable Offshore
4.92
-19.67
-79.99%
RIG
Transocean
5.71
2.47
76.23%
BORR
Borr Drilling
4.30
1.21
39.16%
VAL
Valaris
84.96
32.28
61.28%
NE
Noble Corporation
45.46
16.50
56.98%
SDRL
Seadrill Limited
48.02
15.54
47.84%
Sable Offshore Corporate Events
Business Operations and StrategyLegal Proceedings
Sable Offshore Fined for Consent Decree Violation in California
Negative
Aug 24, 2026
On August 19, 2026, a federal court in California modified a 2020 consent decree governing the Santa Ynez Pipeline System by substituting the federal Pipeline and Hazardous Materials Safety Administration for the California Office of the State Fir...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Sable Offshore Posts First Profitable Quarter, Cuts Capex
Positive
Aug 10, 2026
On August 10, 2026, Sable Offshore reported its second quarter 2026 results, marking its first full quarter of revenue generation and positive operating cash flow since inception, with $137.1 million in revenue, $9.4 million in operating cash flow...
Business Operations and StrategyPrivate Placements and Financing
Sable Offshore Completes Major Financing and Balance Sheet Reset
Positive
Jul 2, 2026
On July 2, 2026, Sable Offshore completed a $345 million offering of 6.5% convertible senior notes due 2031, including full exercise of a $45 million over-allotment, alongside a concurrent offering of 37.3 million common shares that raised about $...
Business Operations and StrategyPrivate Placements and Financing
Sable Offshore Amends Term Loan, Secures Waiver Extension
Positive
Jun 22, 2026
On June 22, 2026, Sable Offshore Corp. said it amended its Senior Secured Term Loan Agreement with Exxon Mobil, extending the loan’s maturity to the earlier of July 24, 2026, or any acceleration following an event of default. As part of the ...
Business Operations and StrategyPrivate Placements and Financing
Sable Offshore Proposes New $1 Billion Term Loan
Neutral
Jun 16, 2026
On June 16, 2026, Sable Offshore Corp. announced it is launching a proposed senior secured term loan facility of up to $1.0 billion to replace its existing senior secured term loan with Exxon Mobil Corp. The company expects to be the borrower unde...
Executive/Board ChangesShareholder Meetings
Sable Offshore Stockholders Confirm Director and Auditor Appointments
Positive
Jun 10, 2026
At its Annual Meeting of Stockholders held on June 10, 2026, Sable Offshore Corp. reported that shareholders elected Gregory P. Pipkin as a Class II director to serve until the 2029 annual meeting, reinforcing the company’s existing leadersh...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Sable Offshore Updates Reserves, Strategy in Investor Presentation
Positive
Jun 1, 2026
On May 29, 2026, Sable Offshore announced it would release a new investor presentation and host a conference call on June 1, 2026, and subsequently posted the materials to its website that day for use with investors and analysts. Also on June 1, 2...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.